Tax & Legal Update
ePrivacy to protect online data
Early this year, the European Commission released the first official draft of its ePrivacy regulation, a special regulation to the General Data Protection Regulation (GDPR). Both should enter into effect already on 25 May 2018. Yet, for ePrivacy,…
MLI: Czech Republic choses minimum standard approach
Mid May this year, the government approved a proposal to enter into the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting. Less than a month before the official signing, the Czech Republic…
Not only (one-crown) bonds under the financial administration’s scrutiny
In past weeks, the financial administration commenced blanket investigations in the financing area, primarily focusing on entities that issued one-crown bonds before 2013. And its coordinated investigation procedures are not only limited to…
New investment incentives?
Proposed changes to investment incentives are currently being discussed in the Czech Republic. Investment incentives are mostly appreciated by investors operating in manufacturing as they provide them with tax holidays for the expansion of existing…
New Income Tax Act: what to expect?
A new Income Tax Act has been the declared priority of the Ministry of Finance for a long time. Based on information behind the scenes, the wording of the new law arranged according to sections is currently under preparation and should be ready for…
Supreme Court: end of zero tolerance to alcohol at work
Although the Labour Code bans employees from entering the workplace under the influence of alcohol, the Supreme Court in its recent judgment stated that not every breach of this duty is automatically a justified reason for dismissal. According to…
Stricter conditions for tax deductibility of expenses?
Some rulings by the Supreme Administrative Court (SAC) have surprising outcomes and de facto narrow the space for recognising expenses as tax-deductible by requiring proof that that a service was received from a specific supplier.
EC presents additional tools to fight aggressive tax planning
The launch of an application to report illegal business practices and the establishment of a special unit of the European Commission – these measures are intended to help the EU tackle aggressive tax planning. Information gained through these tools…
Abolishment of investment limits for qualified investor funds
The government passed a long-awaited amendment to the decree on investing of investment funds and the techniques of their management. Starting from 1 June 2017, qualified investor funds no longer have to diversify their assets in compliance with…
Amendment to the Act on Foreign Nationals’ Residence in the Czech Republic…
The Act on Foreign Nationals’ Residence in the Czech Republic regulates the conditions under which foreigners may enter our territory and sets the rules for issuing residency permits and visas. Its amendment, which is now being discussed in…
Subsidies: also available for large enterprises?
In the second half of April, the Investment and Business Development Agency ceased to accept applications for support under the Potential and Innovation Programmes, falling under the Enterprise and Innovations for Competitiveness Operational…